Exit for private equity firm as Access Group swoops again

Private equity firm Maven Capital Partners has exited Edinburgh-based QikServe through a sale to Loughborough-headquartered business management software provider The Access Group.

QikServe is a digital commerce platform, content management system, kiosk and mobile order and pay provider for the hospitality sector. Its SaaS e-commerce platform last year processed over 50 million digital transactions for its hospitality partners across mobile, web and physical onsite kiosks.

The Maven VCTs first backed QikServe in 2016 to enable the business to roll-out its offering to a hospitality industry. QikServe’s technology is now deployed in over 8,000 bars, hotels, restaurants, sports stadiums and coffee shops across 44 countries around the world.

Maven provided QikServe with additional follow-on funding during its term, taking its total investment to £3.5m.

QikServe also completed the acquisition of Preoday in 2019, a complimentary provider of order-ahead technology. Headcount overall has grown fivefold since 2016.

David Milroy, partner at Maven, said: “In Access we have found a buyer that shares QikServe’s vision for the hospitality tech market and can support the business as it continues to scale globally. I would like to personally, and on behalf of Maven, thank the entire QikServe team and particularly CEO Tony Murphy, founder, president Dan Rodgers, and chairman Steve Tilly for their commitment and leadership, it has been a privilege working with them.”

Tony Murphy, CEO of QikServe said: “As CEO of QikServe, I’ve been working with the Maven team since 2019. Their investment in the business has been instrumental in driving our growth. But more than that, their ongoing commitment has ensured that the executive directors set the right strategy, drove consistent results, and dealt with the many challenges faced. I want to personally thank Maven, who have been strong and value-added partners throughout my tenure.”